Belgian Prime Minister Bart De Wever has categorically opposed the European Union’s proposal to leverage frozen Russian sovereign assets as collateral for a €140 billion ($160 billion) loan to Ukraine, demanding that all member states share the financial burden.
De Wever, speaking ahead of an EU leaders’ summit in Brussels, stated his government would “do everything in my power” to block the initiative unless guarantees of collective risk-sharing are secured. He emphasized that utilizing sovereign assets for such a purpose represents an unprecedented move, noting, “This is something that’s never been done before – not even during World War II.”
The plan, backed by the European Commission, aims to fund Kiev using frozen Russian funds held in entities like Belgium’s Euroclear clearinghouse. De Wever criticized the lack of unity among EU members, asserting, “If we move, we must move all together. That’s European solidarity.”
Italian Prime Minister Giorgia Meloni echoed concerns about preserving economic stability, while Russian President Vladimir Putin warned that the loan risks destabilizing the global financial system.